Greater Valparaiso Chamber of Commerce

Nonprofit profile at a glance

EIN
350727140
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Valparaiso, IN, USA
Phone
2194621105
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,164,500
Expenses
$1,162,936
Assets
$1,555,876
Liabilities
$455,109

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

22 people listed

Executive titles in this filing

  • REX RICHARDS (PRESIDENT)

Highest reported compensation

  • REX RICHARDS (PRESIDENT): $145,250 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To assist businesses in the greater valparaiso area.

What it reported doing in 2024

Our membership directory is a very useful buyers guide for businesses and individuals looking for business services, consumer products, and anything needed to purchase for home or business. It lists the many members who belong to the valparaiso chamber alphabetically and by business category. This directory also provides display advertising which helps to promote the products and services provided by the 800 plus businesses that are affiliated with our chamber of commerce. This directory circulates to 5,000 businesses in the valparaiso market place. Its an outstanding business to business resource.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.3%; rating input score 60
  • Program expense ratio: 59.6%; rating input score 60
  • Fundraising efficiency: $3.47 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.1%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 1.34; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 12.5%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 6.5% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 2.6% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 0.1% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 60.3% of revenue deployed · 59.6% of spending went to programs
  • Governance: 21 of 21 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $145K · 22 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 12 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 11/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.